Miles SmithThe Washington State Department of Commerce’s Multifamily Housing Unit plans to invest $419 million in state funding to increase housing availability over the next two years.
According to the MHU’s Biennial Investment Strategy, eligible projects will include multifamily housing development — including new constructions, acquisitions and rehabilitations — that will benefit people who are low-income, have experienced chronic homelessness, have intellectual and developmental disabilities and others who have difficulty finding housing stability.
Guidance for specific funding, including application information and deadlines, will be released in individual notices of funding opportunities.
The biennial investment strategy includes information for affordable housing developers to prepare to apply for funding, with information including:
- Funding timelines.
- Pre-application workshops and technical assistance.
- Regional distribution breakdowns.
- Per-project and per-applicant funding limits.
- Investments to by-and-for organization.
- Program details by funding source.
- Application scoring criteria.
The department plans to publish notices of funding availability (NOFA) for several capital funding sources for multifamily housing, including the Washington State Housing Trust Fund (HTF), the Federal HOME and National Housing Trust Fund (NHTF) programs, funds reserved for projects serving persons with Intellectual and Developmental Disabilities (IDD), and the Apple Health and Homes (AHAH) program for permanent supportive housing.
The department also anticipates posting other funding sources, such as Housing Portfolio Preservation, Continuing Affordability and Rapid Acquisition for Conversion, through separately published NOFAs.
Photo by D Goug from Pexels
